At World Economic Forum in Davos, Switzerland, Blockchain Journal editor-in-chief David Berlind met with MobileCoin Head of Business Development Brady Forrest who talked about how MobileCoin's global mobile payment app makes it possible to send money to anyone for a fixed fee of 1/4th of a cent. The app is enabled by the MobileCoin blockchain and like other distributed ledger-based payment workflows, sends cryptocurrency from the originator of a transaction to the recipient. In the case of MobileCoin however, that cryptocurrency can be MOB (the native cryptocurrency of MobileCoin) or eUSD; an asset-backed stablecoin pegged to the value of US$1. Onboarding appears relatively friction-free since payments processor Moonpay will exchange fiat directly from Apple or Google Pay (or a debit card) into one of the two cryptocurrencies. Offboarding from one of the two cryptos to Fiat requires a centralized exchange such as Binance. MobileCoin functionality is also available directly from within the Signal app and, to ease the minds of those concerned about custodial wallets, relies on a non-custodial wallet called Moby.

To watch the video version of this podcast or read its full-text transcript, go to:

https://blockchainjournal.com/interview/mobilecoin-looks-disrupt-venmo-cash-app-paypal-frictionless-blockchainenabled-payments/

The video can also be watched on Blockchain Journal's YouTube Channel at https://www.youtube.com/watch?v=irouMkDEVms